MTN shareholders approve GHS 1.52bn dividend payment for 2022 at AGM

Shareholders of MTN Ghana have given their stamp of approval to a final dividend payment of GHS 1.52 billion for the financial year 2022. The decision was reached during the company’s 5th Virtual Annual General Meeting held on May 30, 2023.

The approved dividend, amounting to GHS 0.124 per share, will be disbursed to shareholders whose names were listed on the register as of May 19, 2023. This payout demonstrates MTN Ghana’s commitment to rewarding its investors and sharing its success in a year marked by robust financial performance.

According to the company’s recently published annual report, MTN Ghana recorded a remarkable total revenue of GHS 9.91 billion ($776.5 million) in 2022. This figure represents an impressive 28.4 percent increase compared to the previous year’s earnings of GHS 7.72 billion.

The surge in service revenue was equally noteworthy, climbing by 28.3 percent to reach GHS 9.88 billion. Additionally, the company’s Earnings before interest, taxes, depreciation, and amortization (EBITDA) experienced a significant upswing, soaring by 30.9 percent to GHS 5.6 billion.

MTN Ghana’s exceptional financial performance underscores its dominant position in the telecommunications sector and highlights its ability to capitalize on market opportunities. By delivering substantial returns to its shareholders, the company reiterates its dedication to enhancing shareholder value and driving sustainable growth.

With this dividend payout, MTN Ghana reinforces its reputation as a reliable investment choice and continues to solidify its position as a leading player in Ghana’s telecommunications landscape.

Source: Norvanreports